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Strad, sorry to hear of your country's situation. This is exactly what can happen to the U.S. and other so called "stable" economies. The crisis can be so great that even they could ban retail trading. A real danger to be aware of.
I used to be a member of a forex only site. ( Sold Out) and laughably the main instructor on there said on the site and in his instructional webinars that he didn't even trade forex, but currency futures because forex was just way too rigged in his opinion and futures is the oldest "stable" markets around. There is already shown an MT4 "version" for "brokers" where all kinds of shenanigans, "adjustments" and spying can be done.
I am new to the forum. I am computer savvy but never have been in forums or blogs for any reason so don't always understand (took me a day to figure out how to post this).
I am somewhat jaded on trading stocks because I did enjoy the challenge, I am an analytic person so it is intriguing to me but after paying $5,000.00 and learning how to lose $30,000.00 trying to apply the techniques I was trained on I have to be honest and say I threw the "are you kidding me flag" and quit in disgust.
The part of me that wants to trade however has not gone away so hopefully I can get some pointers on what I was doing wrong. I do understand that it is impossible to win all the time, I understand cutting your losses and riding the gains but for some reason the stuff I was taught to do seemed to always go against what the market does so not big on all the so called indicators we are supposed to use unless I was using in the wrong combination...
I need a silver bullet to fix me (just kidding).
If you could guide me to some of your informative articles I would appreciate, not very good at navigating the forum for some reason....
Do you have a deep knowledge of japanese candlesticks? If not, that is a necessity. Before, I could not figure out where the high probability set ups were. After studying candlesticks for three months, the sets ups screamed out to me especially when incorporating the classical indicators when there exists confluenc
Once you know candlesticks, you must constantly study price action. I look at charts six days a week looking for new discoveries, and have followed this routine for over four years.
I have a website where I provide trading information to help other traders. I'm also on Facebook, Twitter, YouTube and Pinterest as TraderRach. Come join me.
I look forward to sharing in the Big Mike Trading Community and getting to know you better.
I just made a post to another introduction on japanese candlesticks. Do y o u know the high probability reversal set ups using them. I see so many brilliant people trying to reinvent the wheel. Japanese candlesticks have truly turned around my trading. And Rsi, Stochastics, and Macd are very productive for pointing out the reversal set ups. I dont understand why traders spend thousands of hours on custom indicators. Perhaps there a re some that are worth the effort, but will you or me make the critical discovery?
I am also new to this site. I noticed that your software is ninja trader. I am looking for a platform which has clear charts and is simple to just pull up a chart and the classical indicators. I will not be using custom indicators nor auto trading.
My trading is based on price action and rsi, stochastics and macd, especially when a confluence of a p rice action and at least one of the above indicators.
I am familiar with candlesticks but not a master by any means so will do that, when you say study price action what specifically do you mean? Bollinger bands, RSI, etc.?
Been trading for a few years with up and down results. Still looking for that consistency but feel I am getting closer everyday.
With the help of platforms like this and some great indicators I found here I will get one step closer.
If anyone has a good diversion indicator for NT7 please let me know.
Keep up the great work Mike,
Have fun and attract the winning trades all :-)